Senate approves amendments to laws to ensure cybersecurity of banks in Uzbekistan

The need to increase the level of information security and cybersecurity of credit institutions was noted.

The amendments provide the Central Bank of Uzbekistan with additional powers to identify security and cybersecurity threats from credit and payment institutions, payment system operators, currency exchanges, credit bureaus and take measures to prevent them.

Rules related to ensuring cybersecurity are included in the Administrative Responsibility Code, the laws “On the Central Bank”, “On Banks and Banking Activities”, “On Banking Secrecy”, “On the Protection of Information in an Automated Banking System”, “On Electronic Government”, “On payments and payment systems” and “On non-bank credit organizations and microfinance activities”.

The amendments classify violations of legal requirements for ensuring information security and cybersecurity in banking information systems as gross violations.

In addition, the law reflects such additional goals as ensuring information security and cybersecurity of banks’ information systems and resources and protecting bank secrecy.

According to senators, adoption of this law helps to improve information security in the activities of credit and non-bank credit institutions, as well as in the e-government system, and the prevention of crimes committed using information and communication technologies.

At the end of the discussion, the amended law was approved by senators.